Sara would like to purchase a property for $$1,350,000.$ Her mortgage agent, Rahul, has advised her that the mortgage must be classified as a conventional mortgage because of the purchase price. This means that:

Select one:

a$.$ She must have a guarantor

b$.$ Sara must have a down payment of at least $20\%$ of the purchase price

c$.$ She must have a$.$down payment of no more than $10\%$ of the purchase price

d$.$ The mortgage must be approved by an institutional lender